{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-23-015262","form_type":"8-K","ticker":"FCEL","cik":"0000886128","company_name":"FUELCELL ENERGY INC","filed_at":"2023-08-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.881479+00:00","generated_at":"2026-06-11T04:31:51.826115+00:00","sec_items":["1.01","1.02","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"FuelCell Energy closes $20M back leverage financing for Groton project","bullets":["Borrowed $12M senior and $8M subordinated loans; net proceeds ~$19.6M after fees.","Used $1.7M for DSCR reserves, $6.5M for O&M reserves, $0.3M sub DSCR reserve; $11.1M released to FCEL.","$3.0M used to repay Conn. Green Bank loan, terminating that agreement.","Senior loan: Liberty 6.75%, Amalgamated 6.07% (or 7.32% if carbon offset not bought); Sub 8% step-down.","Seven-year senior term, 20-year sub; collateral includes project company assets; FCEL guarantees."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-23-015262","json":"https://secwatch.observer/filing/0001558370-23-015262.json","markdown":"https://secwatch.observer/filing/0001558370-23-015262.md","text":"https://secwatch.observer/filing/0001558370-23-015262.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/fcel-20230818x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T04:31:51.826115+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"311b2afcbdc3ead07bd8557632be3dd7b475875c","claim":"FUELCELL ENERGY INC incurred term loan of 50% of $12.0 million with Amalgamated Bank at 6.07% or 7.32%.","evidence_excerpt":"as a lender (“Amalgamated Lender” and, collectively with Liberty Lender, the “Senior Back Leverage Lenders”), for a term loan facility in an amount not to exceed an aggregate of $12.0 million to be provided 50% by Liberty Lender and 50% by Amalgamated Lender (such facility, the “Senior Back Leverage Loan Facility,” each such term loan, a “Senior Back Leverage Loan”","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"50% of $12.0 million"},{"label":"Counterparty","value":"Amalgamated Bank"},{"label":"Rate","value":"6.07% or 7.32%"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"37219b99212a23cc8064d3e5bc0641c74f48af97","claim":"FUELCELL ENERGY INC incurred term loan of $12.0 million with Liberty Bank, Amalgamated Bank at 6.75%.","evidence_excerpt":"entered into: (i) a Credit Agreement (the “Senior Back Leverage Credit Agreement”) with, by and among Liberty Bank, in its capacities as a lender (“Liberty Lender”), administrative agent (the “Senior Administrative Agent”), and lead arranger, and Amalgamated Bank, in its capacity as a lender (“Amalgamated Lender” and, collectively with Liberty Lender, the “Senior Back Leverage Lenders”), for a term loan facility in an amount not to exceed an aggregate of $12.0 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$12.0 million"},{"label":"Counterparty","value":"Liberty Bank, Amalgamated Bank"},{"label":"Rate","value":"6.75%"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"4b79bb2970ac578b5e8544306dbe4d3ce3290aac","claim":"FUELCELL ENERGY INC incurred term loan of 50% of $12.0 million with Liberty Bank at 6.75%.","evidence_excerpt":"as a lender (“Amalgamated Lender” and, collectively with Liberty Lender, the “Senior Back Leverage Lenders”), for a term loan facility in an amount not to exceed an aggregate of $12.0 million to be provided 50% by Liberty Lender and 50% by Amalgamated Lender (such facility, the “Senior Back Leverage Loan Facility,” each such term loan, a “Senior Back Leverage Loan”","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"50% of $12.0 million"},{"label":"Counterparty","value":"Liberty Bank"},{"label":"Rate","value":"6.75%"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"7a4d598f708854e56911ffe2db601aa5a9f1a9b5","claim":"FUELCELL ENERGY INC incurred term loan of $8.0 million with Connecticut Green Bank.","evidence_excerpt":"(ii) a Credit Agreement (the “Subordinated Back Leverage Credit Agreement”) with Connecticut Green Bank, as administrative agent (the “Subordinated Administrative Agent”) and lender (“Subordinated Back Leverage Lender”), for a term loan facility in an amount not to exceed $8.0 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$8.0 million"},{"label":"Counterparty","value":"Connecticut Green Bank"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"75b00747b1519e09a2ed4de4ca78518c7c3453f9","claim":"FUELCELL ENERGY INC entered into Subordinated Back Leverage Credit Agreement with Connecticut Green Bank valued at Term loan facility in an amount not to exceed $8.0 million (effective 2023-08-18).","evidence_excerpt":"and (ii) a Credit Agreement (the “Subordinated Back Leverage Credit Agreement”) with Connecticut Green Bank, as administrative agent (the “Subordinated Administrative Agent”) and lender (“Subordinated Back Leverage Lender”), for a term loan facility in an amount not to exceed $8.0 million (such facility, the “Subordinated Back Leverage Loan Facility” and such term loan, the “Subordinated Back Leverage Loan”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Connecticut Green Bank"},{"label":"Value","value":"Term loan facility in an amount not to exceed $8.0 million"},{"label":"Effective","value":"2023-08-18"}],"fact_type":"material_agreement"},{"claim_id":"9f92ba12069b906a4421200929d3905ad9c23e09","claim":"FUELCELL ENERGY INC terminated Loan Agreement with Connecticut Green Bank with Connecticut Green Bank valued at Payment of $3.0 million in full satisfaction of all outstanding obligations (effective 2023-08-18).","evidence_excerpt":"pay approximately $3.0 million to Connecticut Green Bank, which represented payment, in full, of all outstanding obligations under the Company’s loan agreement with Connecticut Green Bank (which is discussed in additional detail in Item 1.02 of this Current Report on Form 8-K).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Connecticut Green Bank"},{"label":"Value","value":"Payment of $3.0 million in full satisfaction of all outstanding obligations"},{"label":"Effective","value":"2023-08-18"}],"fact_type":"material_agreement"},{"claim_id":"d9ba7a9ca0af196173938b508ab541c83c3bdcd5","claim":"FUELCELL ENERGY INC entered into Senior Back Leverage Credit Agreement with Liberty Bank and Amalgamated Bank valued at Term loan facility in an amount not to exceed $12.0 million (effective 2023-08-18).","evidence_excerpt":"On August 18, 2023, FuelCell Energy Finance Holdco, LLC (“Borrower”), a wholly owned subsidiary of FuelCell Energy Finance, LLC (“FCEF”), which, in turn, is a wholly owned subsidiary of FuelCell Energy, Inc. (the “Company”), entered into: (i) a Credit Agreement (the “Senior Back Leverage Credit Agreement”) with, by and among Liberty Bank, in its capacities as a lender (“Liberty Lender”), administrative agent (the “Senior Administrative Agent”), and lead arranger, and Amalgamated Bank, in its capacity as a lender (“Amalgamated Lender” and, collectively with Liberty Lender, the “Senior Back Leverage Lenders”), for a term loan facility in an amount not to exceed an aggregate of $12.0 million to be provided 50% by Liberty Lender and 50% by Amalgamated Lender (such facility, the “Senior Back Leverage Loan Facility,” each such term loan, a “Senior Back Leverage Loan” and such term loans together, the “Senior Back Leverage Loans”);","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886128/000155837023015262/0001558370-23-015262-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Liberty Bank and Amalgamated Bank"},{"label":"Value","value":"Term loan facility in an amount not to exceed $12.0 million"},{"label":"Effective","value":"2023-08-18"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}